CAHEC Advances Affordable Housing in the Southeast with Three New Properties

CAHEC has successfully closed three affordable housing properties in the Southeast during the second quarter of 2025, contributing a total of 146 units to the region's housing stock. These developments, located in Staunton, Virginia; Florence, Alabama; and Elizabeth City, North Carolina, are designed to cater to families and seniors earning up to 80% of the Area Median Income (AMI), with features and amenities aimed at enhancing living standards.

The Lily Gardens Apartments in Staunton will offer 50 affordable units, equipped with modern appliances and community facilities like a fitness center. In Florence, the Gateway Double Creek's 48 units will undergo rehabilitation to meet the housing needs of families, while the Renaissance Commons in Elizabeth City will provide 48 upgraded units for seniors, addressing the high demand for affordable senior housing in the area.

Greg Mayo, CAHEC's Vice President of Acquisitions & Risk, emphasized the organization's commitment to both creating new affordable housing opportunities and preserving existing communities. These developments reflect CAHEC's ongoing efforts to strengthen communities through affordable housing, amidst growing needs across the Southeast.